Shell acquires NewMotion, one of Europe's biggest electric vehicle charging companies, in a push to "accelerate the transition to low-carbon transport," according to Drake Star Partners, NewMotion's financial advisor.
“Today’s announcement is an early step towards ensuring customers can access a range of refueling choices over the coming decades, as new technologies evolve to co-exist with traditional transport fuels.” Shell’s Vice President for New Fuels, Matthew Tipper, said.
NewMotion provides electric vehicle charging points for about 30,000 private homes and 50,000 public sites in Europe.
“This move provides customers the flexibility to charge their electric vehicles at home, work and on the go," Tipper said. "When you add this customer offer to our current roll out of fast charging points on Shell forecourts, we believe we are developing the full raft of charge solutions required to support the future of EVs.”
Under the agreement, the Netherlands-based provider will continue to operate under it's own branding.
“We are very pleased to have such a strong investor that fully supports our mission, enabling us to further expand across Europe at a time when the transition to electric vehicles is gathering pace,” said Sytse Zuidema, CEO of NewMotion. “We are excited that our ongoing mission and belief in a transition towards less-polluting transport source has been endorsed so strongly by Shell, one of the world’s leading energy companies.”
